1.1 Accounting policies
The financial statements for Jotun A/S have been prepared in accordance with simplified IFRS pursuant
to section 3-9 of the Norwegian Accounting Act. This mainly implies that the financial statements are
presented in accordance with IFRS and the notes are presented in accordance with the requirements
of the Norwegian Accounting Act. The accounting policies for the Group therefore also apply to Jotun
A/S.
Line items in the notes named Jotun entities comprise subsidiaries, associates and joint ventures.
Accounting policies, estimates and judgements specific to Jotun A/S are incorporated into the
individual notes.
For more information about accounting policies, see consolidated financial statement for the Group.
1.2 New accounting policies
Jotun A/S has applied IFRS 16 Leases for the first time. Several other IFRS amendments and
interpretations apply for the first time in 2019, but do not have any impact on the company’s financial
statements.
IFRS16 Leases
Jotun A/S has implemented IFRS 16 Leases effective for the annual reporting period beginning
1 January 2019. IFRS 16 Leases supersedes IAS 17 Leases and the standard sets out principles for the
recognition, measurement, presentation and disclosure of leases and requires lessees to account for
most leases on the balance sheet. See Note 5.4 for further details.
1.3 Estimates and judgements
Back to Notes for the Parent Company
In preparing the company’s financial statements, Management makes various accounting estimates and
assumptions that form the basis of the presentation, recognition and measurement of the company’s
assets and liabilities. See Note 1.3 to the consolidated financial statements.
1.4 Events after the balance sheet date
No events have taken place after the balance sheet date that would have affected the financial
statements, or any assessments carried out.
JOTUN A/S
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